德尔未来科技控股集团股份有限公司 2021 年第一季度报告全文 德尔未来科技控股集团股份有限公司 2021 年第一季度报告 2021 年 4 月 德尔未来科技控股集团股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人汝继勇、主管会计工作负责人吴惠芳及会计机构负责人（会计 主管人员）王玉英声明：保证季度报告中财务报表的真实、准确、完整。 - 1 - 德尔未来科技控股集团股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减 | | 营业收入（元） | 345,434,456.14 | 171,571,175.66 | 101.34% | | 归属于上市公司股东的净利润 ...

Financial Performance - The company's operating revenue for 2020 was approximately ¥1.57 billion, a decrease of 12.76% compared to ¥1.80 billion in 2019[16]. - The net profit attributable to shareholders was a loss of approximately ¥26.98 million, representing a decline of 133.85% from a profit of ¥79.69 million in 2019[16]. - The net cash flow from operating activities was approximately ¥29.23 million, down 57.28% from ¥68.43 million in the previous year[16]. - The basic earnings per share for 2020 was -¥0.04, a decrease of 133.33% compared to ¥0.12 in 2019[16]. - The weighted average return on equity was -1.49%, down from 4.52% in 2019, indicating a significant decline in profitability[16]. - Total assets at the end of 2020 were CNY 3,408,861,177.83, an increase of 0.73% compared to the end of 2019[18]. - Net assets attributable to shareholders decreased by 3.51% to CNY 1,778,008,257.20 at the end of 2020[18]. - Operating revenue for 2020 was CNY 1,568,231,197.98, down from CNY 1,797,629,581.61 in 2019, representing a decline of approximately 12.74%[18]. - The company reported a net profit attributable to shareholders of CNY -60,956,666.10 in Q4 2020, following a profit of CNY 29,701,084.81 in Q3 2020[22]. - Operating profit was CNY -3,763.85 million, down 132.36% year-on-year[42]. - Net profit attributable to shareholders was CNY -2,697.57 million, a decline of 133.85% compared to the previous year[42]. Business Expansion and Product Development - The company has expanded its business scope to include the research, production, and sales of customized home furnishings and graphene-related products[16]. - The company launched several new product series in 2020, including "Starry Sky," "1863," and "Crystal Color," to enhance brand competitiveness in the flooring sector[28]. - The company established new subsidiaries, including Del Cloud New Materials (Suzhou) Co., Ltd. and Nest Control Holdings, to expand its home furnishing business[27]. - The company introduced a graphene eye massager as part of its new product offerings in the graphene materials sector[31]. - The company has accumulated multiple patents in the graphene new materials field and launched a graphene eye massager during the reporting period[41]. - The company is leveraging smart technology for flexible and scalable production in its custom home solutions[91]. - The company aims to focus resources on home and new materials businesses to enhance asset liquidity and operational efficiency[86]. Market Performance and Customer Engagement - The home furnishing sector accounted for 99.42% of total revenue, with a revenue of approximately ¥1.56 billion, down 12.13% from ¥1.77 billion in 2019[45]. - The custom home furnishing category saw a revenue decline of 15.09%, generating approximately ¥775 million in 2020 compared to ¥913 million in 2019[45]. - The density board segment experienced a revenue increase of 10.41%, reaching approximately ¥35.49 million in 2020, up from ¥32.14 million in 2019[45]. - The Southwest region showed significant growth with a revenue increase of 75.16%, totaling approximately ¥233 million in 2020 compared to ¥133 million in 2019[45]. - The company connected with over 300 brand suppliers in its Nest代 business, establishing sales channels with over 400 property developers, designers, and property management companies[41]. - The flooring industry in China has approximately 3,000 companies, with a total industry output value of around 60 billion yuan, indicating a competitive market landscape[90]. - The custom furniture market is gaining acceptance among consumers, with increasing recognition of products like custom cabinets and wardrobes[91]. Financial Management and Investments - The company raised a total of RMB 63,000 million through the issuance of 6.3 million convertible bonds, with a net amount of RMB 61,896.70 million after deducting issuance costs of RMB 1,103.30 million[77]. - The remaining balance of the raised funds was RMB 43,074.73 million, which included RMB 2,005.01 million in bank interest and investment income, and RMB 34,000 million was allocated to short-term wealth management products[79]. - The company has committed to investing RMB 61,896 million in various projects, with a cumulative investment of RMB 20,826 million reported[81]. - The company is actively seeking quality project resources for investment and mergers in the home and new materials sectors, enhancing its management capabilities[98]. - The company reported a total of ¥288,592,630.00 in financial assets, with a significant increase in receivables amounting to ¥6,269,563.70[66]. - The company has not engaged in any securities or derivative investments during the reporting period[73][74]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of ¥0.30 per 10 shares to all shareholders based on the total share capital as of the dividend announcement date[5]. - The cash dividend for 2020 represents 100% of the total distributable profit of approximately 451.86 million RMB[107]. - In 2019, the company distributed a cash dividend of 0.60 RMB per 10 shares, totaling approximately 39.12 million RMB, which accounted for 49.09% of the net profit attributable to shareholders[106]. - The company has established a three-year shareholder return plan (2018-2020) approved by the board and shareholders[104]. Governance and Compliance - The company has established a comprehensive governance structure to protect the rights of shareholders, particularly minority shareholders, ensuring compliance with relevant laws and regulations[177]. - The company has implemented a robust internal control system to enhance overall governance and ensure accurate and timely information disclosure[177]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[116]. - The company’s controlling shareholder and related parties committed to avoid any actions that could harm the interests of the company and its shareholders[113]. Research and Development - Research and development expenses for 2020 were ¥37,576,043.51, a decrease of 23.82% compared to ¥49,322,292.85 in 2019[58]. - The proportion of research and development expenses to operating income was 2.40%, down from 2.74% in 2019[58]. - The company aims to enhance its research capabilities and transform graphene technology into consumer products, expanding future development opportunities[96]. - Research and development expenditures increased by 15% year-on-year, emphasizing the commitment to innovation[154]. Operational Efficiency and Cost Management - The company actively implemented cost reduction and efficiency enhancement measures to stabilize overall business development amid the pandemic[38]. - The company is committed to improving operational efficiency through strategic investments in technology[161]. - The company has successfully reduced operational costs by 5% through various efficiency initiatives[161]. Strategic Focus and Future Outlook - The company plans to proceed with investment projects based on market conditions, considering the economic slowdown and fluctuations in furniture market prices[81]. - The company plans to expand its market presence by launching new products and enhancing technology development in the upcoming year[167]. - Future guidance suggests continued revenue growth, with expectations of maintaining a growth rate above 30% in the coming year[159]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[157].

Financial Performance - Operating revenue for the reporting period was CNY 479,833,639.34, down 4.35% year-on-year, and year-to-date revenue was CNY 1,063,596,096.81, down 19.31% compared to the same period last year[7]. - Net profit attributable to shareholders for the reporting period was CNY 29,701,084.81, an increase of 2.57%, while year-to-date net profit decreased by 62.23% to CNY 33,980,967.80[7]. - Basic earnings per share for the reporting period remained at CNY 0.04, unchanged from the previous period, while diluted earnings per share also remained at CNY 0.04, reflecting a decrease of 61.54% year-to-date[7]. - The weighted average return on equity was 1.60%, a decrease of 3.32% compared to the same period last year[7]. - The company reported a significant increase in revenue for Q3 2020, achieving a total of 3.85 billion RMB, representing a year-over-year growth of 89.9%[28]. - The company reported a significant increase in revenue for Q3 2020, with a year-over-year growth of 70%[31]. - The company reported a revenue of 5.00 million USD for the third quarter of 2020, representing a 10% increase compared to the previous quarter[34]. - The company reported a revenue of 7.00 million yuan for the third quarter of 2020, representing a year-over-year increase of 54.1%[39]. - The company reported a total revenue of 20.06 million yuan for Q3 2020, representing a year-over-year increase of 3.70%[44]. Cash Flow and Assets - The net cash flow from operating activities for the reporting period was CNY 129,279,089.51, a significant increase of 357.23% compared to the same period last year[7]. - Cash and cash equivalents decreased by 72.10% compared to the end of the previous year, mainly due to the purchase of bank wealth management products[15]. - Cash received from tax refunds decreased by 41.13% year-on-year, mainly due to a reduction in VAT refunds[15]. - The total assets at the end of the reporting period were CNY 3,359,216,816.06, a decrease of 0.73% compared to the end of the previous year[7]. - Total current assets as of September 30, 2020, amounted to CNY 2,381,373,523.55, a slight decrease from CNY 2,398,651,139.63 as of December 31, 2019, representing a decline of approximately 0.72%[53]. - Cash and cash equivalents decreased significantly from CNY 1,308,755,197.72 to CNY 365,162,096.23, a drop of about 72.0%[53]. - The company's trading financial assets increased from CNY 282,223,068.49 to CNY 1,060,628,024.67, reflecting a growth of approximately 276.0%[53]. - The total assets as of September 30, 2020, were CNY 3,359,216,816.06, down from CNY 3,383,999,635.99, indicating a decrease of approximately 0.74%[56]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,030[11]. - The largest shareholder, Del Group Co., Ltd., held 53.39% of the shares, amounting to 356,831,040 shares, with 156,978,947 shares pledged[11]. - The company did not engage in any repurchase transactions during the reporting period[12]. Investments and Acquisitions - The company plans to establish a joint venture, Chaodai Holdings, with a registered capital of 80 million yuan, with the company contributing 64 million yuan (80%)[17]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market presence, with a target completion date set for mid-2021[30]. - The company is exploring potential acquisitions to strengthen its technology portfolio, with a budget of 50 million allocated for this purpose[36]. Research and Development - The company is investing heavily in R&D, allocating 30% of its budget towards developing new technologies and improving existing products[30]. - Research and development investments have increased by 20% year-over-year, aimed at enhancing product innovation[37]. - Research and development expenses for Q3 2020 were CNY 9,424,829.61, consistent with CNY 9,437,976.99 in the previous period[62]. Market Expansion and Future Outlook - The company provided a positive outlook for the upcoming quarter, projecting a revenue growth of approximately 10% based on current market trends and user engagement metrics[30]. - Market expansion plans include entering two new international markets by Q1 2021, which is anticipated to increase overall market share by 5%[29]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% market share by the end of 2021[41]. - The company provided a future outlook, projecting a revenue growth of 15% for the next quarter[35]. Financial Stability and Ratios - The debt-to-equity ratio remains stable at 0.5, reflecting a balanced approach to financing and risk management[29]. - The company aims to maintain a liquidity ratio above 1.5, ensuring sufficient cash flow to support ongoing operations and investments[30]. - The company has maintained a stable financial structure with no significant debt issues reported[44]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, which are expected to reduce costs by 5% in the next fiscal year[34]. - The company plans to implement cost-cutting measures that could save approximately 10 million annually[37].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥583,762,457.47, a decrease of 28.49% compared to the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥4,279,882.99, down 92.99% year-on-year[17]. - The net profit after deducting non-recurring gains and losses was -¥20,501,019.16, a decline of 143.66% compared to the previous year[17]. - The net cash flow from operating activities was -¥162,416,009.23, representing a decrease of 552.21% year-on-year[17]. - Basic and diluted earnings per share were both ¥0.01, down 88.89% from the same period last year[17]. - Total assets at the end of the reporting period were ¥3,304,583,030.93, a decrease of 2.35% from the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥1,858,337,175.19, an increase of 0.84% compared to the end of the previous year[17]. - Operating profit was 1.698 million yuan, down 97.37% year-on-year[38]. - The company reported a significant increase in financial expenses, up 231.11% to $21.73 million, mainly due to increased convertible bond interest[41]. - Cash flow from operating activities showed a net outflow of $162.42 million, a decline of 552.21% compared to the previous year[41]. - The company reported a net profit of 3.80 million yuan for the first half of 2020, representing a 58% increase year-over-year[115]. Revenue and Market Expansion - The company achieved total operating revenue of 583.76 million yuan, a decrease of 28.49% compared to the same period last year[38]. - The home furnishing sector accounted for 99.91% of total revenue, with a year-over-year decline of 27.94%[42]. - The revenue from the new materials sector dropped by 85.84%, primarily due to a decrease in graphene application product sales[44]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2021[115]. - Market expansion plans include entering three new international markets by the end of 2020, targeting a 25% increase in market share[119]. - The company has set a revenue guidance of 10 billion yuan for the upcoming fiscal year, indicating a projected growth of 20%[117]. Product Development and Innovation - The company launched new product series "Xinghan" and "1863" in the flooring industry during the reporting period[26]. - The company expanded its custom furniture segment by introducing six new products under the "light luxury family" brand[27]. - New product launches are expected to contribute an additional 1.5 million yuan in revenue by the end of Q3 2020[116]. - New product development includes the launch of two innovative technologies aimed at enhancing user experience, expected to be released in Q3 2020[118]. - The company is investing in new technology development to improve operational efficiency and product offerings[122]. Financial Management and Investments - The total investment amount for the reporting period reached CNY 998,117,649.83, a significant increase of 475.64% compared to CNY 173,391,304.30 in the same period last year[54]. - The company raised a total of CNY 63,000 million through the issuance of convertible bonds, with a net amount of CNY 61,896.70 million after deducting issuance costs[62]. - The company has a total of CNY 98,838,122.96 in restricted assets at the end of the reporting period, including CNY 15,238,501.51 in other monetary funds and CNY 80,000,000.00 in trading financial assets pledged for subsidiary loans[53]. - The company has not engaged in any securities or derivative investments during the reporting period[58][59]. - The company has not made any significant equity investments during the reporting period[55]. Shareholder and Stock Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company granted 1,323,000 reserved restricted stocks to 41 eligible incentive objects at a price of 4.44 CNY per share on April 30, 2019[92]. - The largest shareholder, Del Group, holds 53.39% of the shares, with a total of 356,831,040 shares, and has pledged 156,978,947 shares[141]. - The company’s management team has not changed during the reporting period, maintaining stability in leadership[161]. - The company has implemented a stock incentive plan that is subject to performance evaluation and regulatory compliance[140]. Risk Management and Challenges - The company faced various risks and has outlined measures to address them in the report[5]. - The estimated cumulative net profit for the year is projected to be between -25 million to 37.5 million yuan, representing a decline of over 50% year-on-year[76]. - The company experienced significant profit decline in the first half of the year, with the third quarter remaining roughly flat compared to the same period last year[76]. - The company is focusing on the dual business strategy of "home furnishing and new materials," which requires enhanced management capabilities in investment decisions and resource integration[77]. Corporate Governance and Compliance - The company held two temporary shareholder meetings and one annual meeting during the reporting period, with investor participation rates of 54.61%, 63.31%, and 63.60% respectively[81]. - The half-year financial report has not been audited[85]. - The company has not faced any major litigation or arbitration matters during the reporting period[87]. - The company has not reported any changes in fundraising project situations during the reporting period[67].

Financial Performance - The company's revenue for Q1 2020 was ¥171,571,175.66, representing a decrease of 46.13% compared to ¥318,500,889.24 in the same period last year[8]. - The net profit attributable to shareholders was a loss of ¥23,893,869.80, a decline of 198.59% from a profit of ¥24,235,154.34 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥40,299,985.37, down 411.83% from ¥12,923,845.88 in the same period last year[8]. - The net cash flow from operating activities was a negative ¥162,282,372.69, worsening by 58.81% compared to a negative ¥102,187,297.76 in the previous year[8]. - Operating revenue decreased by 46.13% year-on-year, primarily due to the impact of the pandemic, which hindered normal production and marketing activities in the first quarter[16]. - The company reported a gross margin of 21.0% in Q1 2020, compared to 26.7% in Q1 2019[86]. - The total comprehensive loss for Q1 2020 was CNY 28,820,474.90, compared to a comprehensive income of CNY 17,909,673.19 in Q1 2019[84]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,411,069,108.81, an increase of 0.80% from ¥3,383,999,635.99 at the end of the previous year[8]. - The total liabilities rose to CNY 1,513,192,866.41 from CNY 1,456,638,348.98, indicating a growth of approximately 3.5%[75]. - Current liabilities totaled CNY 946,085,613.49, up from CNY 899,124,948.90, reflecting an increase of about 5.2%[75]. - The company's equity decreased to CNY 1,897,876,242.40 from CNY 1,927,361,287.01, a decline of about 1.5%[76]. - Total current assets amounted to ¥2.44 billion, a slight increase from ¥2.40 billion at the end of 2019, indicating a growth of approximately 1.5%[72]. Cash Flow - Cash and cash equivalents decreased by 75.02% compared to the end of the previous period, mainly due to the purchase of bank wealth management products with bank deposits[16]. - The cash inflow from operating activities totaled 286,084,456.02 CNY, compared to 336,039,863.77 CNY in the previous period, reflecting a decline in operational cash generation[91]. - The net cash flow from investment activities was -816,043,415.04 CNY, a significant decrease compared to 24,951,225.49 CNY in the previous period, highlighting increased investment expenditures[92]. - The total cash and cash equivalents at the end of the period were 309,885,666.62 CNY, down from 390,022,582.35 CNY in the previous period, showing a decrease in liquidity[92]. Investment and R&D - Research and development expenses decreased by 34.26% year-on-year, mainly due to reduced R&D investment during the pandemic[16]. - The company has allocated a budget of 100 million for research and development in new technologies this year[50]. - Investment in new technologies and product development accounted for 40% of total expenditures in the first quarter[55]. - The company reported investment income of CNY 8,559,993.90 in Q1 2020, compared to CNY 2,875,831.23 in the previous year[83]. Strategic Initiatives - The company aims to enhance its asset management capabilities through various financial instruments[27]. - The company is focusing on expanding its investment in fixed income and currency market instruments[27]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market presence[50]. - The management emphasized a commitment to sustainability and corporate social responsibility in its future business strategies[51]. Market Expansion and User Growth - The company is exploring opportunities for market expansion in emerging markets, particularly in Asia[30]. - The company reported a significant increase in user data, with a 20% growth in active users compared to the previous quarter[32]. - The user base grew by 3.25 million in the same period, indicating a strong demand for the company's products[51]. - User data indicated a 30% increase in active users compared to the previous quarter, reaching a total of 700,000 active users[53].

Financial Performance - The company's operating revenue for 2019 was CNY 1,797,629,581.61, representing a 1.66% increase compared to CNY 1,768,219,992.58 in 2018[16] - The net profit attributable to shareholders for 2019 was CNY 79,689,249.83, a decrease of 23.24% from CNY 103,817,689.56 in 2018[16] - The net cash flow from operating activities was CNY 68,430,477.29, down 72.16% from CNY 245,780,688.73 in the previous year[16] - The basic earnings per share for 2019 was CNY 0.12, a decline of 25.00% compared to CNY 0.16 in 2018[16] - Operating profit decreased by 25.19% to RMB 116.30 million compared to the previous year[41] - Net profit attributable to shareholders fell by 23.24% to RMB 79.69 million[41] - The home furnishing sector contributed RMB 1,774.41 million, accounting for 98.71% of total revenue, with a growth of 1.68%[43] - The new materials sector saw a revenue decline of 25.15%, totaling RMB 11.95 million, down from RMB 15.96 million[43] Assets and Liabilities - Total assets at the end of 2019 were CNY 3,383,999,635.99, an increase of 31.59% from CNY 2,571,712,118.63 at the end of 2018[18] - The net assets attributable to shareholders increased by 11.07% to CNY 1,842,766,135.12 from CNY 1,659,112,110.70 in 2018[18] - The company's cash and cash equivalents at the end of 2019 amounted to ¥1,308,755,197.72, representing 38.67% of total assets[66] - The total amount of funds raised by the company in 2019 was RMB 63,000 million, with a net amount of RMB 61,896.70 million after deducting issuance costs of RMB 1,103.30 million[80] - The remaining balance of the raised funds as of December 31, 2019, was RMB 44,110.14 million, which includes bank interest and financial product income of RMB 1,094.68 million[82] Cash Flow and Investments - The net cash flow from operating activities decreased by 72.16% to ¥68,430,477.29 compared to the previous year[61] - Total cash inflow from investment activities increased by 84.57% to ¥4,375,002,862.72, primarily due to an increase in bank wealth management funds[61] - Total cash inflow from financing activities surged by 320.82% to ¥715,950,940.00, mainly from the issuance of convertible bonds[61] - The net increase in cash and cash equivalents was ¥828,799,695.95, reflecting a significant increase of 277.41%[61] - The company reported a significant increase in cash outflow from financing activities, which rose by 376.63% to ¥112,121,020.89, mainly due to increased loan repayments and dividend payments[61] Research and Development - Research and development expenses rose by 40.46% to 28,534,896.73 yuan, indicating increased investment in innovation[58] - The number of R&D personnel increased by 2.31% to 221, with R&D investment amounting to 49,322,292.85 yuan, accounting for 2.74% of operating revenue[59] - The company aims to enhance its research and development capabilities in the graphene new materials sector, focusing on effective transformation of scientific achievements[101] - The company is investing 5% of its revenue into R&D for new technologies[158] Market Strategy and Expansion - The company has expanded its business scope to include the research, production, and sales of customized home furnishings and graphene-related products[16] - The company is transitioning its flooring business from a product supplier to a comprehensive flooring solution provider under the "318 plan" strategy[27] - The company is focusing on a "one-stop" retail model to cater to the needs of the 80s and 90s consumer demographic[39] - The company plans to explore potential mergers and acquisitions to strengthen its market position and diversify its portfolio[156] - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next three years[165] Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares to all shareholders[5] - The company aims to maintain a cash dividend payout ratio of at least 20% during profit distribution, considering its growth stage and significant capital expenditure[110] - The company reported a net profit of RMB 79,689,249.8 for 2018, with a cash dividend distribution of RMB 40,027,628.6, which was 38.56% of the net profit[110] Compliance and Governance - The company has not reported any discrepancies between international and Chinese accounting standards during the reporting period[19] - The company has not encountered any violations of commitments during the reporting period[116] - The company has made a commitment to adhere to relevant laws and regulations set by regulatory bodies[117] - The company has not engaged in any related party transactions during the reporting period[139] Industry Trends and Competition - The flooring industry in China has approximately 3,000 enterprises, with a total industry output value of around CNY 60 billion, indicating a competitive market landscape[92] - The custom home furnishing industry is experiencing rapid growth, with significant competition from both traditional furniture and home decoration sectors[93] - The graphene industry is positioned for growth, with China holding 75% of the world's graphite reserves and 72% of production, providing a competitive advantage[96] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10-15% driven by new product launches and market expansion[166] - The company plans to implement a new marketing strategy aimed at increasing brand awareness, with a budget increase of 25% for the upcoming year[196] - The company is exploring partnerships with technology firms to leverage new innovations in product offerings[194]

Financial Performance - Net profit attributable to shareholders decreased by 35.56% to ¥28,957,491.07 for the reporting period[7] - The company reported a total net profit of ¥89,975,719.25 for the year-to-date, a decrease of 28.95% compared to the same period last year[7] - The net profit for Q3 2019 was CNY 82.00 million, down from CNY 121.94 million in Q3 2018, indicating a decrease of 32.8%[49] - The net profit for the third quarter was CNY 29,242,970.78, down 33.7% from CNY 44,180,127.51 in the previous year[39] - The company's operating profit for Q3 2019 was CNY 111.93 million, down from CNY 163.41 million in the same quarter last year, reflecting a decline of 31.5%[49] Revenue and Costs - Operating revenue for the period was ¥501,673,271.03, reflecting a year-on-year increase of 2.88%[7] - Total operating revenue for Q3 2019 was CNY 501,673,271.03, an increase of 2.14% compared to CNY 487,629,183.15 in Q3 2018[37] - Total operating costs for Q3 2019 were CNY 460,530,896.34, up from CNY 436,518,107.06 in the same period last year, reflecting a year-over-year increase of 5.5%[37] - The total operating costs for the third quarter were CNY 134,143,351.67, up from CNY 111,469,380.45 in the same period last year[41] Assets and Liabilities - Total assets increased to ¥3,287,411,294.93, representing a growth of 27.83% compared to the previous year[7] - The total liabilities as of September 30, 2019, were CNY 1,338,727,869.14, compared to CNY 763,993,992.81 at the end of 2018, indicating a significant increase in leverage[34] - Total assets increased to CNY 3,225,980,716.27 as of September 30, 2019, from CNY 2,510,452,648.41 at the end of 2018, representing a growth of about 28.5%[33] - The total equity attributable to shareholders rose to CNY 1,887,252,847.13 from CNY 1,746,458,655.60, reflecting an increase of approximately 8.06%[35] Cash Flow - The net cash flow from operating activities dropped significantly by 59.18% to ¥28,274,701.81[7] - Net cash flow from operating activities decreased by 95.47% compared to the same period last year, mainly due to increased bonus payments and reduced cash sales[16] - The cash flow from operating activities for the year-to-date period was CNY 1.49 billion, slightly down from CNY 1.49 billion in the previous year[51] - The net cash flow from investment activities was -698,405,490.44 CNY, compared to -66,407,477.78 CNY in the same period last year[53] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,635[11] - The largest shareholder, Del Group Co., Ltd., holds 53.33% of the shares, amounting to 356,831,040 shares[11] Research and Development - Research and development expenses increased by 40.09% compared to the same period last year, mainly due to increased R&D investment[16] - The company reported a research and development expense of CNY 9,437,976.99 for Q3 2019, which is an increase from CNY 8,923,622.21 in Q3 2018, highlighting a commitment to innovation[37] - Research and development expenses for the third quarter were CNY 2,146,212.33, a decrease of 13.9% from CNY 2,495,058.27 in the previous year[41] Financial Expenses - Financial expenses increased by 584.38% compared to the same period last year, primarily due to the accrual of convertible bond interest[16] - The company incurred financial expenses of CNY 11,378,613.61 in the third quarter, significantly higher than CNY 1,440,768.38 in the same period last year[41] - The financial expenses for Q3 2019 increased significantly to CNY 17.35 million, compared to CNY 1.24 million in Q3 2018[49]

Financial Performance - The company reported a total operating revenue of RMB 816,383,193.41, representing a 3.77% increase compared to the same period last year[18]. - Net profit attributable to shareholders decreased by 25.32% to RMB 61,018,228.18 from RMB 81,708,287.14 in the previous year[18]. - The net profit after deducting non-recurring gains and losses fell by 41.44% to RMB 46,952,639.53[18]. - Operating profit decreased by 37.25% to RMB 64.60 million, while total profit fell by 35.06% to RMB 68.16 million[38]. - The company reported a decrease in net cash and cash equivalents by 42.38%, totaling ¥152,754,265.67 compared to ¥265,084,747.14 in the previous year[40]. - The net profit attributable to the parent company for the first half of 2019 was CNY 61,018,228.18, a decrease of 25.5% compared to CNY 81,708,287.14 in the same period of 2018[152]. - The total comprehensive income for the first half of 2019 was CNY 40,648,163.45, down from CNY 65,287,504.61 in the first half of 2018, indicating a decrease of 37.8%[157]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -24,902,591.86, a decline of 576.54% compared to the previous year[18]. - The net cash flow from investing activities also saw a decline of 400.00%, amounting to -¥426,562,922.25, attributed to longer-term financial product maturities[40]. - The net cash flow from financing activities increased by 413.49% to ¥604,219,779.78, mainly due to cash received from the issuance of convertible bonds[40]. - The cash inflow from operating activities totaled CNY 905,477,817.11 for the first half of 2019, compared to CNY 885,483,467.73 in the same period of 2018, showing a slight increase of 2.1%[158]. - The cash outflow from operating activities was CNY 930,380,408.97 for the first half of 2019, up from CNY 880,257,767.70 in the same period of 2018, reflecting an increase of 5.7%[160]. - The total cash inflow from investment activities was 637,848,822.25 RMB, down from 1,082,364,776.72 RMB in the previous year, reflecting a decline of 41.1%[164]. Assets and Liabilities - The company’s total assets increased by 24.45% to RMB 3,200,566,551.05 compared to the end of the previous year[18]. - The company's asset-liability ratio increased to 40.72%, up from 31.86% in the previous year, reflecting a rise of 8.86%[130]. - The total liabilities increased to CNY 1,263,425,271.37, up from CNY 763,993,992.81 at the end of 2018[147]. - The total assets at the end of the period amounted to 679.12 million, with a notable increase in cash reserves[169]. - The total owner's equity at the end of the reporting period was 1.765 billion, reflecting a decrease of 5.03%[173]. Research and Development - Research and development expenses surged by 158.45% to ¥21,278,946.38, primarily due to upgrades in raw materials and product updates[40]. - The company is investing in research and development to innovate and improve product offerings, aiming for a competitive edge in the market[168]. - The research and development expenses for the first half of 2019 were CNY 4,240,372.63, slightly down from CNY 4,377,240.08 in the same period of 2018[155]. Strategic Initiatives - The company launched new product lines including "万象", "视界Plus", and "奇遇" aimed at younger consumers during the reporting period[26]. - The company is transitioning from a product supplier to a comprehensive solution provider in the flooring industry as part of its 2020 strategy[26]. - The company plans to focus on the "big home" strategy and cultivate new materials to enhance its market position[26]. - The company is actively expanding its graphene research and application capabilities, collaborating with Nobel laureate Konstantin Novoselov to establish a new materials technology company[38]. - The company aims to enhance its market expansion strategies, focusing on new product development and technological advancements[168]. Shareholder and Equity Information - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[6]. - The total number of ordinary shareholders at the end of the reporting period was 50,079, with the largest shareholder, Del Group, holding 53.33% of the shares[112]. - The company completed the initial grant of 17.386 million restricted stock at a price of RMB 4.77 per share as part of its 2018 incentive plan[81]. - The company approved the grant of 1.323 million reserved restricted stocks at a price of RMB 4.44 per share to 41 eligible participants on April 30, 2019[82]. Market and Revenue Insights - The revenue from the home furnishing sector accounted for 99.14% of total revenue, with a 4.17% increase year-on-year[43]. - Export revenue skyrocketed by 26,567.20%, driven by the expansion of custom cabinet sales in overseas markets[45]. - The new materials sector experienced a significant revenue decline of 58.94%, primarily due to decreased sales of graphene preparation equipment and services[45]. - The company aims to increase its market share through strategic acquisitions and partnerships in the upcoming quarters[168]. Compliance and Governance - The financial report was approved by the board of directors on August 29, 2019[182]. - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the financial position and operating results accurately[185]. - The company has not encountered any issues or other situations regarding the use and disclosure of raised funds[61].

Financial Performance - Revenue for Q1 2019 was CNY 318,500,889.24, an increase of 2.36% compared to CNY 311,170,928.03 in the same period last year[7]. - Net profit attributable to shareholders decreased by 20.24% to CNY 24,235,154.34 from CNY 30,384,068.91 year-on-year[7]. - Net profit after deducting non-recurring gains and losses dropped by 56.40% to CNY 12,923,845.88 compared to CNY 29,642,970.31 in the previous year[7]. - Total operating revenue for Q1 2019 was CNY 318,500,889.24, an increase from CNY 311,170,928.03 in the same period last year, representing a growth of approximately 1.07%[33]. - Total operating costs for Q1 2019 were CNY 315,369,487.85, up from CNY 275,777,876.31, indicating an increase of about 14.36%[33]. - The company's operating profit for Q1 2019 was CNY 21,912,511.76, compared to CNY 42,007,371.69 in Q1 2018, reflecting a decline of approximately 47.8%[35]. - Net profit for Q1 2019 was CNY 17,909,673.19, down from CNY 31,077,446.33 in the same period last year, indicating a decrease of about 42.3%[36]. - Total comprehensive income for Q1 2019 was CNY 17,909,673.19, compared to CNY 31,077,446.33 in the previous year, a decrease of approximately 42.3%[36]. - The total profit for Q1 2019 was CNY 21,825,405.98, down from CNY 42,607,950.76 in Q1 2018, representing a decline of about 48.8%[35]. Cash Flow and Liquidity - Operating cash flow showed a significant decline, with a net outflow of CNY 102,187,297.76, worsening by 89.84% from CNY -53,827,227.62 in the same period last year[7]. - The net cash flow from operating activities was -102,187,297.76 CNY, compared to -53,827,227.62 CNY in the previous period, indicating a decline in operational cash generation[43]. - The company reported a total cash outflow from operating activities of 438,227,161.53 CNY, which is higher than 418,196,410.33 CNY in the previous period[43]. - The cash inflow from sales of goods and services was 118,311,351.55 CNY, down from 164,604,728.61 CNY in the previous period, indicating a decline in revenue generation[47]. - The cash flow from financing activities resulted in a net increase of 4,606,606.12 CNY, slightly up from 4,300,000.00 CNY in the previous period[44]. - The total cash and cash equivalents at the end of the period were 266,790,391.84 CNY, compared to 188,475,873.39 CNY in the previous period, indicating an increase in liquidity[48]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,501,096,679.03, down 2.75% from CNY 2,571,712,118.63 at the end of the previous year[7]. - The company's total liabilities and equity amounted to CNY 2,470,781,783.95, down from CNY 2,510,452,648.41, indicating a decrease of about 1.58%[32]. - Total liabilities decreased to CNY 707,268,878.79 in Q1 2019 from CNY 763,993,992.81 in the previous year, showing a reduction of about 7.41%[32]. - The total equity attributable to shareholders increased to CNY 1,763,512,905.16 in Q1 2019 from CNY 1,746,458,655.60, marking a growth of approximately 0.98%[32]. - The company's total assets as of March 31, 2019, were CNY 2,470,781,783.95, a decrease from CNY 2,510,452,648.41 at the end of 2018[32]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 46,554[10]. - The largest shareholder, Del Group Co., Ltd., held 53.43% of the shares, amounting to 356,831,040 shares, with 156,978,947 shares pledged[10]. - The company issued 6.3 million convertible bonds, raising a net amount of 621 million RMB after deducting underwriting fees of 9 million RMB[16]. Expenses and Investments - "Management expenses" increased by 32.51% year-on-year, attributed to rising labor costs and an expanded consolidation scope[16]. - "R&D expenses" surged by 68.81% year-on-year, reflecting increased investment in research and development[16]. - Research and development expenses rose to CNY 5,707,424.20 in Q1 2019, compared to CNY 3,380,976.37 in Q1 2018, reflecting a growth of approximately 68.56%[33]. - The company paid 76,336,964.80 CNY in employee compensation, which increased from 56,368,255.88 CNY in the previous period, reflecting higher labor costs[43]. - Cash paid for the acquisition of fixed assets increased by 110.09%, primarily due to construction payments for Suzhou Patterson New Materials Co., Ltd.[15]. - "Financial expenses" decreased by 59.59% year-on-year, mainly due to increased interest income[16]. - "Other income" increased by approximately 15.9 million RMB year-on-year, primarily due to new industrial support funds received during the reporting period[16]. - The company received 15.4 million RMB in industrial support funds from the Ningbo Meishan Bonded Port Area Finance Bureau[17]. - "Cash received from other operating activities" increased by 253.35% year-on-year, mainly due to the receipt of industrial support funds[16]. - The cash outflow for purchasing goods and services was 247,988,356.39 CNY, compared to 265,597,833.26 CNY in the previous period, showing a decrease in operational expenditures[43]. - The company recorded an asset disposal gain of CNY 650.00 in Q1 2019, indicating ongoing asset management strategies[35].

Financial Performance - The company's operating revenue for 2018 was approximately ¥1.77 billion, representing a year-on-year increase of 10.49% compared to ¥1.60 billion in 2017[16]. - The net profit attributable to shareholders for 2018 was approximately ¥103.82 million, an increase of 21.22% from ¥85.64 million in 2017[16]. - The net cash flow from operating activities for 2018 was approximately ¥245.78 million, reflecting a growth of 3.06% compared to ¥238.48 million in 2017[16]. - The basic earnings per share for 2018 was ¥0.16, up 23.08% from ¥0.13 in 2017[16]. - Total assets at the end of 2018 reached approximately ¥2.57 billion, a 14.97% increase from ¥2.24 billion at the end of 2017[16]. - The net assets attributable to shareholders at the end of 2018 were approximately ¥1.66 billion, which is a 7.35% increase from ¥1.55 billion at the end of 2017[16]. - The weighted average return on equity for 2018 was 6.53%, an increase from 5.72% in 2017[16]. - The company achieved total operating revenue of 1,768,219,992.58 CNY in 2018, representing a year-on-year growth of 10.49%[42]. - The net profit attributable to shareholders reached 10,381,770 CNY, an increase of 21.22% compared to the previous year[42]. - The total operating costs for the home industry reached ¥1,175,235,190.12 in 2018, an increase of 9.49% compared to ¥1,073,374,049.87 in 2017[52]. Market Expansion and Strategy - The company has expanded its business scope to include the research, production, and sales of customized home furnishings and graphene-related products[15]. - The company has established over 3,000 effective stores nationwide, enhancing its sales network and brand presence[32]. - The company is expanding its market presence through strategic partnerships, including the establishment of a design center in Italy and joint ventures in the home furnishing sector[26]. - The customized home furnishing market is expected to grow significantly, driven by urbanization and rising disposable income, with a focus on personalized design and efficient space utilization[82]. - The company is focusing on expanding its market presence through new product development and technology research in the smart home sector[79]. - The company plans to enhance its market conversion rate of its new materials research outcomes to meet market demands[41]. - The company is planning market expansion into Southeast Asia, targeting a 15% market share within the next two years[132]. Research and Development - Research and development expenses rose by 46.06% to ¥20,315,488.99 in 2018, compared to ¥13,909,291.12 in 2017[59]. - The number of R&D personnel increased by 42.11% to 216 in 2018, compared to 152 in 2017[60]. - The company is investing in R&D, allocating 11% of its revenue towards the development of new technologies and products[136]. - Investment in new technology development increased by 30%, focusing on enhancing product features and user experience[172]. - The company plans to invest 300 million RMB in research and development for new technologies over the next three years[163]. Sustainability and Environmental Initiatives - The company emphasizes environmental sustainability, having launched a formaldehyde-free flooring series and continuously innovating in eco-friendly products[33]. - The company is committed to environmental protection and sustainable development, continuously improving its environmental standards through technological innovation[182]. - The company aims to reduce its carbon footprint by 25% over the next five years[154]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.60 per 10 shares, totaling no more than ¥40.06 million[5]. - The cash dividend for 2018 represents 38.59% of the net profit attributable to the company's ordinary shareholders[94]. - The company has established a three-year shareholder return plan (2018-2020) to enhance cash dividend policies[91]. - The company’s management confirmed the accuracy of the incentive plan and its alignment with shareholder interests[198]. Financial Management and Governance - The company has established a comprehensive governance structure to protect the rights of shareholders, particularly minority shareholders, ensuring timely and accurate information disclosure[181]. - The company has maintained a continuous relationship with the auditing firm for 10 years, ensuring consistent oversight of financial reporting[107]. - The company has focused on optimizing its service system and business processes to better meet market demands[183]. - The company has no instances of unauthorized external guarantees during the reporting period[127]. Acquisitions and Investments - The company is actively seeking investment and acquisition opportunities in the home furnishing and new materials sectors to improve overall management capabilities[87]. - A strategic acquisition of a tech startup is in progress, which is anticipated to enhance the company's technological capabilities[133]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[154]. User Engagement and Market Trends - User data indicated a 15.2% growth in active users compared to the previous year, reaching a total of 2.63 million users[136]. - User data showed a consistent increase, with a monthly active user growth rate of 39% year-over-year[144]. - The company provided a positive outlook for the upcoming year, projecting a revenue growth of 20% based on new product launches and market expansion strategies[157]. Operational Efficiency - The company aims to reduce operational costs by 5% through improved supply chain management strategies[133]. - The operating profit margin improved to 18%, reflecting better cost management and operational efficiency[142]. - The company aims to enhance operational efficiency, targeting a reduction in costs by 5% through process optimization[137].